Author Topic: Japan explains that the yen quickly weakened to the G7 .  (Read 8 times)

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Offline kafa88

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Japan explains that the yen quickly weakened to the G7 .
« on: May 14, 2022, 04:18:18 am »

Finance Minister Shunichi Suzuki said on Thursday that Japan has explained the weakening of the yen. Recently, it highlighted Tokyo's growing concerns about the currency rapidly weakening to a two-decade low against the US dollar.

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In a statement issued after the meeting, the G7 leaders said they were closely monitoring "volatile" global financial markets, but did not directly address the exchange rate.

Suzuki said the G7 is likely to stick to the agreement that the market should set the currency rate. that the group will coordinate closely on the movement of currencies And excessive and disorderly exchange rate movements will affect growth.

"I believe the G7's fundamental idea of ​​the exchange rate remains unchanged," Suzuki told reporters after a meeting with financial leaders of advanced economic group Group of Seven, held on the sidelines of the International Monetary Fund (IMF) rally. )

The yen approaches a 20-year low against the US dollar.

The yen weakened against the dollar. The Bank of Japan (BOJ) maintains an ultra-low interest rate policy. This is in contrast to the chances that the Federal Reserve will be more aggressive in raising interest rates. It was down nearly 6 percent against the dollar in March.